Strateco Resources reported that the indicated mineral resource at its Matoush project, located in the Otish Mountains in northern Quebec, has increased by 58% since the last mineral resource estimate was published in January 2012. The indicated resource is now estimated to be 586,000 tonnes with an average grade of 0.95 % U3O8 containing 12.33 million pounds of U3O8, compared to 453,000 tonnes grading 0.78% U3O8 containing 7.78 million pounds of U3O8 in January 2012. The inferred mineral resource now stands at 1.69 million tonnes at an average grade of 0.44% U3O8 containing 16.44 million pounds of U3O8, compared to 2.04 million tonnes grading 0.43% U3O8 containing 19.22 million pounds of U3O8 in January 2012.

Roscoe Postle Associates Inc. ("RPA") updated the resource estimate for the Matoush uranium project in accordance with National Instrument 43-101 using the drill results available on November 22, 2012. The indicated resource is contained in the three main zones: AM-15, MT-34 and MT-22. The inferred resource is contained primarily in the MT-22, MT-34, AM-15 Extension, MT-02, MT-06 and MT-36 zones.

These zones are present over a strike length of 3 km. The Matoush structure that controls the mineralization has been identified over a strike length extending 11 km southward and 2.5 km northward. The increase in the indicated category is primarily explained by the continuity of the very high grades returned by drilling done in 2012.

Strateco also drilled several holes in the southern portion of the MT-34 Zone and in the central portion of the MT-22 Zone to tighten the drill hole spacing in areas where resources were previously categorized as inferred.